ZEC Surges Past $1400 Mark, Setting New All-Time High

Zcash (ZEC) surged past $1,400, reaching a new all-time high. According to CoinMarketCap data as of 11:58 PM KST on July 17, ZEC traded at $1,427.73, up 14.62% from the previous day and 21.28% higher than one week ago. This marks the first time ZEC has exceeded the $1,400 threshold.

The price momentum coincided with Garrett Kinzer, founder of BitForex, withdrawing approximately 35,000 ETH from Binance earlier that day and depositing it into Hyperliquid. Market observers are noting the possibility that Kinzer may be using the Ethereum holdings to maintain short (sell) positions on ZEC.

Separately, Kinzer has faced allegations of insider trading for profiting during last October's largest cryptocurrency liquidation event in history.